CI Investments Inc. Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

CI Investments Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,609,503 shares of the financial services provider’s stock after selling 128,645 shares during the period. JPMorgan Chase & Co. comprises 0.8% of CI Investments Inc.’s investment portfolio, making the stock its 27th biggest position. CI Investments Inc. owned about 0.05% of JPMorgan Chase & Co. worth $181,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Dravo Bay LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $26,000. HBC Financial Services PLLC raised its stake in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 90 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Financial Connections Group Inc. lifted its holdings in JPMorgan Chase & Co. by 48.5% in the 2nd quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Finally, Advanced Research Investment Solutions LLC boosted its stake in JPMorgan Chase & Co. by 118.2% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Peter Scher sold 1,310 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $163,776.20. Following the sale, the insider now directly owns 34,973 shares in the company, valued at approximately $4,372,324.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,310 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total value of $163,776.20. Following the sale, the insider now directly owns 34,973 shares in the company, valued at $4,372,324.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary E. Erdoes sold 33,515 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $115.77, for a total value of $3,880,031.55. Following the sale, the chief executive officer now directly owns 533,795 shares of the company’s stock, valued at $61,797,447.15. The disclosure for this sale can be found here. Insiders sold 41,964 shares of company stock worth $4,936,426 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.1 %

Shares of NYSE JPM traded up $1.44 during midday trading on Thursday, hitting $136.48. The company’s stock had a trading volume of 7,316,204 shares, compared to its average volume of 11,552,875. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $400.32 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The business’s fifty day simple moving average is $119.83 and its two-hundred day simple moving average is $118.58. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $169.81.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.17. The company had revenue of $32.72 billion for the quarter, compared to the consensus estimate of $31.88 billion. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. JPMorgan Chase & Co.’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.74 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 11.72 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Thursday, October 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of JPMorgan Chase & Co. from $174.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Jefferies Financial Group set a $117.00 target price on JPMorgan Chase & Co. in a report on Monday, September 12th. Morgan Stanley reduced their price objective on JPMorgan Chase & Co. from $127.00 to $126.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 5th. Finally, Oppenheimer dropped their target price on JPMorgan Chase & Co. to $154.00 in a report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $144.90.

JPMorgan Chase & Co. Profile

(Get Rating)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Read More

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.